Steel Authority of India (SAIL) is planning to acquire majority stake in Neelachal Ispat Nigam (NINL) with plans to raise NINL’s capacity 5-fold from nearly a million tonnes per annum.
NINL, a company jointly promoted by MMTC and Industrial Promotion and Investment Corporation of Orissa, has a pig iron manufacturing facility in Odisha. NINL also produces LAM coke used by the steel industry. It has a 62.5 MW captive power plant to meet captive needs.
Further, SAIL is enhancing its hot metal capacity to 23.4 million tonnes per annum (mtpa) from 13.8 mtpa now with Rs 72,000 crore investments lined up.
SAIL is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
